FYI
- Congress can use legislation to change (or even abolish) the bureau. Indeed, there’s currently legislation in both chambers to enshrine a variety of transparency standards, some of which passed the House Financial Services Committee with bipartisan backing.
- The Senate must confirm the head of the bureau.
- The board’s director must testify at least twice a year before the Senate Banking, Housing, and Urban Affairs Committee; the House Financial Services Committee; and the House Energy and Commerce Committee. The bureau must also submit semi-annual budget justifications.
- The bureau is subject to an annual financial audit by the Government Accountability Office, a congressional agency.
* Other experts in government regulation and oversight don’t go this far -- but they add that Fiorina’s characterization is an exaggeration.
Slashdot Mirror
FYI - Congress can use legislation to change (or even abolish) the bureau. Indeed, there’s currently legislation in both chambers to enshrine a variety of transparency standards, some of which passed the House Financial Services Committee with bipartisan backing. - The Senate must confirm the head of the bureau. - The board’s director must testify at least twice a year before the Senate Banking, Housing, and Urban Affairs Committee; the House Financial Services Committee; and the House Energy and Commerce Committee. The bureau must also submit semi-annual budget justifications. - The bureau is subject to an annual financial audit by the Government Accountability Office, a congressional agency. * Other experts in government regulation and oversight don’t go this far -- but they add that Fiorina’s characterization is an exaggeration.